§ 8350. Retirement counseling

Statutory text

For the purposes of this section, the term “retirement counselor”, when used with respect to an agency, means an employee of the agency who is designated by the head of the agency to furnish information on benefits under this subchapter and chapter 84 of this title and counseling services relating to such benefits to other employees of the agency.

The Director of the Office of Personnel Management shall establish a training program for all retirement counselors of agencies of the Federal Government.

The training program established under subsection (b) of this section shall provide for comprehensive training in the provisions and administration of this subchapter and chapter 84 of this title, shall be designed to promote fully informed retirement decisions by employees and Members under this subchapter and individuals subject to chapter 84 of this title, and shall be revised as necessary to assure that the information furnished to retirement counselors of agencies under the program is current.

The Director shall conduct a training session under the training program at least once every 3 months.

Once each year, each retirement counselor of an agency shall successfully complete a training session conducted under the training program.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1986
Pub. L. 99–335 title II § 205(a) · 100 Stat. 514
Enacted · 5 U.S.C. § 8350
Added Pub. L. 99–335, title II, § 205(a), June 6, 1986, 100 Stat. 592
Source evidence
Code source credit
Added Pub. L. 99–335, title II, § 205(a), June 6, 1986, 100 Stat. 592
Enacted provision · exact public law section
(a) In General.— Subchapter III of chapter 83 of title 5, United States Code, as amended by section 201(b), is further amended by adding at the end thereof the following: “§ 8350. Retirement counselling “(a) For the purposes of this section, the term ‘retirement counselor’, when used with respect to an agency, means an employee of the agency who is designated by the head of the agency to furnish information on benefits under this subchapter and chapter 84 of this title and counseling services relating to such benefits to other Ante, p. 517. employees of the agency. “(b) The Director of the Office of Personnel Management shall establish a training program for all retirement counselors of agencies of the Federal Government. “(c) (1) The training program established under subsection (b)(1) of this section shall provide for comprehensive training in the provisions and administration of this subchapter and chapter 84 of this title, shall be designed to promote fully informed retirement decisions by employees and Members under this subchapter and individuals subject to chapter 84 of this title, and shall be revised as necessary to assure that the information furnished to retirement counselors of agencies under the program is current. “(2) The Director shall conduct a training session under the training program at least once every 3 months. “(3) Once each year, each retirement counselor of an agency shall successfully complete a training session conducted under the training program.”.
1986
Federal Employees’ Retirement System Technical Corrections Act of 1986
Pub. L. 99–556 title II § 202 · 100 Stat. 3131
Substituted · 5 U.S.C. § 8350(c)(1)
Pub. L. 99–556 substituted “subsection (b)” for “subsection (b)(1)”
Source evidence
Code amendment note
Subsec. (c)(1). Pub. L. 99–556 substituted “subsection (b)” for “subsection (b)(1)”.
Enacted provision · exact public law section
SEC. 202. AMENDMENT RELATING TO RETIREMENT COUNSELING. Section 8350(c)(1) of title 5, United States Code, as added by section 205 of the Federal Employees’ Retirement System Act of 1986 (Public Law 99–335; 100 Stat. 592), is amended by striking out “(b)(1)” and inserting in lieu thereof “(b)”.

2 of 2 references resolved to an enrolled provision

Editorial Notes

Amendments

1986—Subsec. (c)(1). Pub. L. 99–556 substituted “subsection (b)” for “subsection (b)(1)”.

Statutory Notes and Related Subsidiaries

Effective Date

Section effective June 6, 1986, see section 702(b)(3) of Pub. L. 99–335, set out as a note under section 8401 of this title.

Enhancing Financial Literacy

Pub. L. 108–469, § 2, Dec. 21, 2004, 118 Stat. 3892, provided that:

“(a)
In General.—
The Federal Retirement Thrift Investment Board (in this section referred to as the ‘Board’) shall periodically evaluate whether the tools available to participants provide the information needed to understand, evaluate, and compare financial products, services, and opportunities offered through the Thrift Savings Plan. The Board shall use these evaluations to improve its existing education program for Thrift Savings Plan participants.
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“(b)
Report on Financial Literacy Efforts.—
The Board shall annually report to the Committee on Governmental Affairs [now Committee on Homeland Security and Governmental Affairs] of the Senate and the Committee on Government Reform [now Committee on Oversight and Government Reform] of the House of Representatives on its Thrift Savings Plan education efforts on behalf of plan participants.
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“(c)
Strategy.—
As part of the retirement training offered by Office of Personnel Management under section 8350 of title 5, United States Code, the Office, in consultation with the Board, shall—
“(1)
not later than 6 months after the date of enactment of this Act [Dec. 21, 2004], develop and implement a retirement financial literacy and education strategy for Federal employees that—
“(A)
shall educate Federal employees on the need for retirement savings and investment; and
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“(B)
provide information related to how Federal employees can receive additional information on how to plan for retirement and calculate what their retirement investment should be in order to meet their retirement goals; and
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“(2)
submit a report to the Committee on Governmental Affairs [now Committee on Homeland Security and Governmental Affairs] of the Senate and the Committee on Government Reform [now Committee on Oversight and Government Reform] of the House of Representatives on the strategy described under paragraph (1).”
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Credits

1986 · 2 acts

1986Added Pub. L. 99–335, title II, § 205(a), June 6, 1986, 100 Stat. 592
1986amended Pub. L. 99–556, title II, § 202, Oct. 27, 1986, 100 Stat. 3135.

Show as published

(Added Pub. L. 99–335, title II, § 205(a), June 6, 1986, 100 Stat. 592; amended Pub. L. 99–556, title II, § 202, Oct. 27, 1986, 100 Stat. 3135.)